Morgan Stanley Cuts Stake in Meridian Bioscience Inc. (VIVO)
Morgan Stanley cut its position in Meridian Bioscience Inc. (NASDAQ:VIVO) by 32.0% during the first quarter, Holdings Channel reports. The institutional investor owned 278,325 shares of the company’s stock after selling 131,187 shares during the period. Morgan Stanley’s holdings in Meridian Bioscience were worth $3,839,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in Meridian Bioscience by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the company’s stock worth $237,000 after buying an additional 300 shares in the last quarter. Arizona State Retirement System boosted its position in Meridian Bioscience by 1.4% in the first quarter. Arizona State Retirement System now owns 21,941 shares of the company’s stock worth $303,000 after buying an additional 300 shares in the last quarter. RiverPoint Capital Management LLC boosted its position in Meridian Bioscience by 2.9% in the first quarter. RiverPoint Capital Management LLC now owns 20,965 shares of the company’s stock worth $289,000 after buying an additional 599 shares in the last quarter. Mason Street Advisors LLC boosted its position in Meridian Bioscience by 7.2% in the first quarter. Mason Street Advisors LLC now owns 9,868 shares of the company’s stock worth $136,000 after buying an additional 667 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in Meridian Bioscience by 3.9% in the first quarter. Thrivent Financial For Lutherans now owns 23,640 shares of the company’s stock worth $326,000 after buying an additional 890 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.
Shares of Meridian Bioscience Inc. (NASDAQ:VIVO) traded down 0.179% during midday trading on Tuesday, hitting $13.925. 20,936 shares of the stock were exchanged. The company has a market capitalization of $587.68 million, a P/E ratio of 27.850 and a beta of 0.89. The firm has a 50-day moving average of $14.79 and a 200-day moving average of $13.99. Meridian Bioscience Inc. has a 1-year low of $10.75 and a 1-year high of $19.85.
Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $50.14 million during the quarter, compared to analyst estimates of $49.13 million. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. Meridian Bioscience’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, equities analysts expect that Meridian Bioscience Inc. will post $0.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.58%. The ex-dividend date is Thursday, August 3rd. Meridian Bioscience’s payout ratio is 98.04%.
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A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. BidaskClub cut shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Canaccord Genuity boosted their price target on shares of Meridian Bioscience from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.75.
About Meridian Bioscience
Meridian Bioscience, Inc is a life science company engaged in the development, manufacture, sale and distribution of diagnostic test kits for gastrointestinal, viral, respiratory and parasitic infectious diseases, and elevated blood lead levels, and the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/quantitative PCR (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers.
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